30th July 2012
Asian shares extended their gains at the opening of trading today (July 30th), as stockmarket news in the continent was buoyed by expected action from the US and Europe.
MSCI's broadest index of Asia-Pacific shares outside Japan increased by 1.2 percent to a three-week high, after Friday's 2.2 per cent climb – the biggest one-day rise in a month, Reuters reports.
Japan's Nikkei stock average hit a one-week high after its own 0.4 per cent rise.
European Central Bank president Mario Draghi pledged that he would do all that was possible to safeguard the single currency and it has put an end to the recent sell off and set the tone for a slight recovery.
The US central bank will also hold its own policy meeting on Tuesday and Wednesday, with mounting speculation that the Fed might take action to bolster recovery, after the country's gross domestic product only increased by 1.5 per cent in the second quarter.
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